Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.
Citi on Tuesday forecast iron ore prices would drop to around $50 a tonne in the short term as demand from Chinese steel mills wanes and oversupply grips the international seaborne markets. "Chances are with the steel margins where they are, there will be a fall in iron ore prices to around $50 a tonne," Citi iron ore and steel trading head Mark Lyons told an industry conference.
Citi on Tuesday forecast iron ore prices would drop to around $50 a tonne in the short term as demand from Chinese steel mills wanes and oversupply grips the international seaborne markets. "Chances are with the steel margins where they are, there will be a fall in iron ore prices to around $50 a tonne," Citi iron ore and steel trading head Mark Lyons told an industry conference.
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